Talks on with Taiwan to set up ATA Carnet like system The Hindu, Chennai, December 17, 2012
India is holding talks with Taiwan, through trade bodies, to establish a business set up on line with the international customs document ATA Carnet, said Satish Kumar Reddy, Director, International Customs Division, Ministry of Finance, here on Friday.
Speaking at a workshop on 'ATA Carnet' organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), Mr. Reddy said the new scheme would facilitate import and export of goods temporarily without payment of normally applicable duties and taxes, which is expected to be introduced before the end of first quarter of the next year.
S. Vijayalakshmi, Senior Assistant Director, FICCI, said commercial samples, professional equipment and goods meant for fairs and exhibits could be imported or exported under Carnet. The system provided a guarantee to the Customs authorities worldwide that duties/taxes would be paid.
World over 71 countries have recognised the Carnet system. In India, FICCI has been entrusted the work of issuing Carnets to the trade and industry. Entertainment, gem and jewellery, automobile, engineering, leather and individual design artists were some of the important sectors covered. Till November 2011, a total of 432 Carnets were issued, she said.
Sanjay Kumar Agarwal, Commissioner of Customs (Airport and Air Cargo), said the system reduced a lot of paper work and made documentation simple. Under the system, the goods could be brought in cargo or baggage mode, he added.